USD 310.2 million loan pact with World Bank for Uttarakhand, Maharashtra

NEW DELHI: The government today signed agreements with the World Bank for loans worth $ 310.2 million for funding development programmes in Uttarakhand and Maharashtra.

These programmes include watershed development, rural water supply and sanitation in these two states.

The agreements include loan of $ 165 million for Maharashtra rural water supply and sanitation programme, $ 121.20 million credit for Uttarakhand decentralised watershed development project and $ 24 million for additional financing of Uttarakhand rural water supply and sanitation.

The watershed project in Uttarakhand seeks to increase efficiency of natural resource use and productivity of rain fed agriculture. It is expected to be completed by September 2021, an official release said.

The $ 165 million credit agreement has the objective to improve performance of Maharashtra's sector insitutions in planning, implementation and monitoring of its rural water supply and sanitation programme, improve access to quality and sustainable services around urban villages.

The closing date for the Project is March 31, 2020. While, the $ 24 million project for Uttarakhand has the objective to improve effectiveness of rural water supply and sanitation ( RWSS) services through decentralization and restore services of damaged schemes in the disaster affected areas in the State of Uttarakhand.

This programme is expected to be completed by June 30, 2015.